N-able, Inc. (NYSE:NABL) Stock Position Increased by Applied Fundamental Research LLC

Applied Fundamental Research LLC grew its position in N-able, Inc. (NYSE:NABL) by 32.8% during the fourth quarter, Holdings Channel reports. The firm owned 1,083,033 shares of the company’s stock after acquiring an additional 267,399 shares during the period. N-able makes up approximately 7.9% of Applied Fundamental Research LLC’s portfolio, making the stock its 7th largest position. Applied Fundamental Research LLC’s holdings in N-able were worth $10,116,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in N-able by 95.5% in the 4th quarter. Blue Trust Inc. now owns 3,128 shares of the company’s stock worth $29,000 after buying an additional 1,528 shares during the period. KBC Group NV boosted its holdings in shares of N-able by 104.7% in the 4th quarter. KBC Group NV now owns 5,490 shares of the company’s stock valued at $51,000 after acquiring an additional 2,808 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in shares of N-able in the fourth quarter worth $104,000. Verition Fund Management LLC purchased a new position in shares of N-able during the third quarter worth $146,000. Finally, Entropy Technologies LP acquired a new position in N-able during the third quarter valued at $149,000. 96.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NABL. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of N-able in a research report on Friday. BMO Capital Markets restated a “market perform” rating and issued a $8.50 target price (down previously from $13.50) on shares of N-able in a research note on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of N-able in a research report on Friday. Scotiabank upped their price objective on N-able from $8.75 to $9.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Royal Bank of Canada cut their target price on shares of N-able from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.38.

N-able Stock Performance

Shares of NABL stock opened at $7.61 on Monday. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.43. N-able, Inc. has a 12-month low of $6.75 and a 12-month high of $15.49. The business’s 50 day moving average is $9.24 and its two-hundred day moving average is $10.71. The company has a market capitalization of $1.44 billion, a P/E ratio of 38.03 and a beta of 0.41.

N-able declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 12th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the company to buy up to 5.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

N-able Company Profile

N-able, Inc provides cloud-based software solutions for managed service providers in the United States, the United Kingdom, and internationally. The company's solutions enable MSPs to support digital transformation and growth within small and medium-sized enterprises. It provides software platform designed to be an integrated, enterprise-grade solution that serves as an operating system for its MSP partners and scales as their businesses grow.